Firstbuy helps young family get on the property ladder
RICHARD, Amanda and baby Max Wallace moved into their new three bedroom Broadway home in December last year.
Richard said: "Amanda and I were renting in Paignton and Dartmoor, so this is our first property together.
"FirstBuy made owning our first home achievable and affordable - only having to raise the five per cent deposit really took the pressure off.
"From looking round the development in early November, to picking up the keys in mid-December the whole process took about six weeks; it was very straightforward and Redrow took care of it all.
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"We were told what would happen every step of the way and as first time buyers that was very helpful."
Richard and Amanda chose the three bedroom Broadway home that is available from just £195,995. This property offers great value for money and has an intricately planned interior that fits in everything you need without feeling cramped.
The Broadway's downstairs cloaks and laundry rooms, en suite to the master bedroom and large lounge with patio doors to the garden are designed for overlapping lives which makes it perfect for busy young families.
Richard continued: "We decided to go with our beautiful Broadway home because the FirstBuy scheme meant a three bedroom property was within our reach for the first time.
"We had thought we would only be able to get a two bedroom property within our budget which would have meant when we have a brother or sister for Max we'd have had to move again.
"The whole Redrow team has been great, the sales consultants and the site manager have all been brilliant, really helpful and accommodating – nothing is too much trouble.
"We couldn't be happier with our new home or the service we received, everything is perfect."
Emma Solman, area sales manager for Redrow South West, said: "We want to reassure first time buyers who are losing hope of ever owning their own home that it is possible and we can help!
"There's no doubt about it, buying a new home is an extremely exciting time, but without the right support and assistance, it can end up being one of the most stressful too, especially for first time buyers.
"From the moment you put down your deposit on your new Redrow home, to picking up your shiny new set of keys and beyond, we are here to help guide you and make sure the whole process is as straightforward and stress-free as possible.
"We understand that for young people and families, security is important and they don't want to worry about the lease coming to an end. They also want to be paying off their own mortgage, not paying off the mortgage of a landlord.
"With a smaller deposit and much lower monthly mortgage repayments, FirstBuy makes your first steps on the property ladder possible.
"Qualification is easy as long as you are a first time buyer or returning buyer who cannot afford to buy on the open market with a household income of under £60,000 per annum.
"Your interest free loan is risk free too, if you sold after five years, you only pay back 20 per cent of the sale price, for example £30,000 on a sale of £160,000."
FirstBuy is a new Government-backed initiative to help first time buyers onto the property ladder.
Redrow and the Government can provide a 20 per cent equity loan, interest free for five years, which means homebuyers might only need to save a four per cent deposit and secure a 76 per cent mortgage - (This mortgage is only available through Halifax. Other mortgages are available from other lenders) - yet still own 100 per cent of a brand new, dream home.
For example, to purchase a Redrow home for £150,000 homebuyers may only need a deposit of £6,000 and secure a smaller mortgage of £114,000. The remainder of the purchase price is covered by the shared equity loan from Redrow and the Government.
For more information telephone Redrow (01626 438010).